When the federal goverment guaranteed men like Justo Rodriguez that it would buy the electricity he generated at a fixed price for the next 25 years, he mortgaged two houses and his workshop to buy the equipment. He, in turn, guaranteed his banks that he would return the money they lent him.
|Samuel Aranda for The New York Time|
Countries must operate on a rule of law and gurantees made by the government cannot be withdrawn when people are investing based on those guarantees. This is just one more step into anarchy that the PIGS (Portugal, Italy, Greece, Spain) countries are falling into.
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